Cray Inc. (NASDAQ:CRAY) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $39.80.
A number of research analysts have recently weighed in on CRAY shares. Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. KeyCorp lowered their price target on shares of Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Stifel Nicolaus lowered their price target on shares of Cray from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Finally, Pacific Crest started coverage on shares of Cray in a report on Thursday, July 28th. They issued an “overweight” rating and a $41.00 price target for the company.
Cray (NASDAQ:CRAY) opened at 22.55 on Thursday. Cray has a 12-month low of $20.27 and a 12-month high of $43.79. The firm’s 50 day moving average price is $23.15 and its 200-day moving average price is $30.55. The stock has a market cap of $897.74 million, a P/E ratio of 71.59 and a beta of 1.39.
Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.06. The firm had revenue of $100.20 million for the quarter, compared to analysts’ expectations of $101.36 million. Cray had a net margin of 1.96% and a return on equity of 5.72%. The company’s revenue for the quarter was down 46.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. Equities research analysts anticipate that Cray will post $0.45 earnings per share for the current fiscal year.
In other Cray news, SVP Michael Charles Piraino sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $21.97, for a total value of $329,550.00. Following the completion of the sale, the senior vice president now owns 63,937 shares of the company’s stock, valued at $1,404,695.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in CRAY. Texas Permanent School Fund purchased a new stake in shares of Cray during the first quarter valued at about $1,363,000. Aperio Group LLC purchased a new stake in shares of Cray during the first quarter valued at about $252,000. Pacad Investment Ltd. purchased a new stake in shares of Cray during the first quarter valued at about $638,000. TIAA CREF Investment Management LLC increased its stake in shares of Cray by 99.8% in the first quarter. TIAA CREF Investment Management LLC now owns 419,945 shares of the company’s stock valued at $17,600,000 after buying an additional 209,777 shares during the last quarter. Finally, Teachers Advisors Inc. increased its stake in shares of Cray by 443.1% in the first quarter. Teachers Advisors Inc. now owns 512,147 shares of the company’s stock valued at $21,464,000 after buying an additional 417,852 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
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